Offshore Drilling in costs in Brazil
Quote from Offshore Magazine 01/01/2007
“Due to the complexity of the subsalt play, there are many challenges to overcome: the salt layer can be mechanically unstable, wells can lose circulation, and can encounter lava flows beneath the salt in the rift section or volcanic flows that pre-date the formation of the saltcap. Thus, drilling is very expensive. A normal well costs $35 million. Subsalt well costs will rise to between $100 million to $150 million, but it is worth it, because ‘the prize’ will be much greater.” Since these costs are based on over 7 years ago HRT's estimated costs would be considered very reasonable. Considering the increase in costs since then.
No more $300 lunches at IPEX's parent company HRT has made sure of that.
Ogo your other statements are unwarranted at this time unless they are proven.
Brazil has some of the best security regulations in the world, where else would you get to vote on a R/S and be made aware of anyone, corporation or institution holding 5% or more of a company's shares.
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